Frank B

Managing my own money

8 posts in this topic

Why do I struggle to save my money? Why do I have the urge to spend everything I  have? Why do I put myself in the position to live paycheck to paycheck? 

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@Frank B You probably picked it up as a habit from one of your parents or close relatives growing up. There’s an underlying belief about money that’s causing you to act the way you act. Ask yourself what that belief is. Just becoming aware of it is super helpful.

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Hey Frank B,

Might seem boring, but reading some books on money management can help. 10/15 minutes a day of immersion can get you on the right track of thinking. I can recommend Money Master the Game by Tony Robbins - some of the later chapters are very confusing but he outlines the dangers of overspending, living paycheck to paycheck as well as some clear strategies to having not to (finding fulfilling ways of spending less than you earn, the idea of a financial security bucket) 

 

Taking charge of your money definitely helps you take charge of the rest of your life! Keep at it. Daily struggle for me too.

 

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@Frank B

Do you pay yourself first?

In other words, do you take a percentage of your income every month and put it away for savings first, before you pay your bills?

If not, that's the quickest solution. But it's actually harder than you think because there's all sorts of psychological issues when it comes to money.

Re:

I'd also make a formal budget if you don't have one already. And then once you have it, STICK TO THE BUDGET.

Must-Read-Books:

- Secrets of the Millionaire Mind by T Harv Eker

- It's Not About The Money by Brent Kessell

- Millionaire Booklet by Grant Cardone

- Rich Dad, Poor Dad by Robert Kiyosaki

- Millionaire Fastlane by MJ DeMarco

I also saw that @Keepmovingforward recommended Money, Master The Game by Tony Robbins. That's definitely a good book, but not if you're poor and want to be wealthy soon. That book is good if you're wealthy and want to stay wealthy.

 


 

 

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Probably why I struggled with some of the later chapters @aurum haha! WIll check out your recommendations. Which of those would you recommend reading first?

 

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I didn't read other books but Rich Dad Poor Dad was very good in my opinion. Unfortunately Kiyosaki seems like a filthy guy but the book was in my opinion good. 

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On 2018-01-12 at 5:54 AM, Frank B said:

Why do I struggle to save my money? Why do I have the urge to spend everything I  have? Why do I put myself in the position to live paycheck to paycheck? 

You are programmed and reinforced every day to do so.

To put it simply, socialengineering.

Discover minimalism and you can basicly get a better life.

Things are dead, memories/xp are not. Both requires money. Pick the one you want.

 

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